MARQUETTE, Mich. (WZMQ) – Buying a home can be a daunting process. we sat down with a mortgage specialist to find out ways of obtaining your dream home.
With the ever increasing cost of living and higher rents, people are often unable to save for a down payment, add in the complexity of the mortgage process, and you have a situation that intimidates many first time home buyers.
Craig Helppi of Honor Credit Union explains how enlisting the help of a mortgage professional can get you into a home that otherwise seems out of reach.
“Luckily, there are programs that we here at honor have that can help those first time home buyers out, whether it be a down payment assistance, whether it be just meeting with one of our experts to talk it over and see where they’re at so that they can get to the which ultimately their goal is home ownership,” said Helppi.
Helppi He said there are many financing options available, including the launch program, a potential game changer for some if you meet certain eligibility requirements, you may qualify for a grant of up to $20,000 toward the purchase price of a new home. For first time home buyers.
“To qualify, you do have to be a first time home buyer. The household income has to be at 80% or below of the area median income. You have to contribute at least $500 towards the purchase,” said Helppi
One of the requirements calls for home buyers to take a class in how mortgages work and what to expect this hopes to take some of the mystery out of buying a home. The program will go into effect on April, 15 and terminates when all the allotted funds are given out. But remember, this is a limited time offer on a first come, first serve basis.
